Whether you’re a business owner looking to protect your business with insurance and risk management, or you’re an individual looking for competitive premiums and peace of mind, you will want one of Canberra’s best insurance brokers. With a leading insurance broker, you will be able to find a cost-effective and tailored insurance plan to suit your individual needs so you can rest easy at night knowing you are covered.
Skip to the list of Canberra's best insurance brokers
- allinsure
- Civic Insurance Brokers
- CMS Insurance Services
- Mezzanine Insurance
What makes a great insurance broker?
Here are a few qualities to look for when trying to find the right broker:
- Experience: The best insurance brokers will have years of experience in the business and will have dealt with a wide range of situations. That wealth of knowledge will hold them in good stead to help you through your own insurance dealings.
- Qualifications: Top brokers will be proud of their qualifications and licenses so don't be afraid to ask them.
- Professional service: A good insurance broker will make sure all of his customers needs are met and they are looked after in a friendly and professional manner. You are paying for a service, so you should be treated with respect by a true professional.
- Quality advice: A broker offers clients financial advice, so they should be able to provide sound advice to provide you with the tools to make the best decision.
Is it cheaper to get insurance through a broker?
While working with an insurance broker does mean that you are paying an extra upfront cost, often it can save you money in the long run. Brokers have relationships and connections with dozens of different insurance providers and will often get cheaper rates than the public because providers know brokers are trained in selecting the right cover for their clients, which presents them with less risk overall. If they trust the broker, then they in turn trust the client, which results in a lower rate for you.
When talking to an insurance broker you will want to discuss their relationships with local insurance providers to gauge how strong they are. You may want to ask how long they have been operating in the area, how many providers on average they gain quotes from, and some examples of lower rates they have managed to secure for previous clients.
An insurance broker will work as the middleman between you and the insurance providers, seeking out quotes from a range of providers and negotiating the best rates possible for you. They will also help take you through any paperwork and clarify any legal jargon or complicated terms and conditions for you. A good insurance broker will also help lodge and coordinate the claims for you at no extra cost.
How much do insurance brokers cost?
Insurance advisors and brokers will charge a ‘broker fee’ when you enter an insurance contract, they have organised for you. Generally, the broker charges will be structured one of two ways:
Fee for service: Where a broker charges a set fee that is agreed to upfront to cover their time working with you.
Commission based: this is where a broker will work out your fee as a percentage of the value of the insurance plan you have signed up for.
Each insurance broker will have a slightly different rate and fee structure so make sure that you ask upfront about those details; trustworthy brokers will have transparent fees and will be happy to discuss them with you.
If you are looking for other great businesses in Canberra, check out some of our other articles on Canberra’s best bookkeepers, Canberra’s best business advisors, Canberra’s best tax accountants and Canberra’s best financial planners.
The best insurance brokers in Canberra 2024
To be listed as one of Canberra’s best businesses, Canberra Daily requires them to have maintained a track record of positive reviews on Google and Facebook, with a minimum average of 4/5 stars. Interested in having your business listed on Canberra's Best? Click here to learn more.
When looking for an insurance broker in the Canberra region, check out our list of the best local businesses below.
CMS Insurance Services
CMS Insurance Services provides clients with advice on a number of general insurance products that can be tailored to suit your needs.
Some of the insurance services they offer include home and contents, residential strata, personal and motor vehicle, caravan and trailer, business, construction and plenty more.
So whether you are insuring your personal possessions, the business you have worked hard to establish, or something else, give CMS a call to get expert advice.
allinsure
The allinsure team have built a wealth of trust in the Canberra and Queanbeyan region having handled insurance for thousands of customers.
They specialise in business and construction/builders insurance as well as a large range of other products that are sure to meet your insurance needs.
Civic Insurance Brokers
Civic Insurance Brokers was formed in 1997 with an aim to deliver high quality products and services at competitive prices.
They offer a wide range of insurance products including association liability, employment practices, cyber liability, commercial property and more.
Mezzanine Insurance
Mezzanine Insurance have a client base of businesses that cover a range of industries including trades, retail, construction and more.
They have a team of experienced insurance advisors who pride themselves on creating long standing relationships with their clients. They also provide a complete insurance service tailored to meet individual requirements.
Frequently Asked Questions
What does an insurance broker do?
An insurance broker will represent their clients at all times and provide them with professional guidance in everything pertaining to insurance. They will also work to understand their clients risks and discuss how to use insurance to protect businesses and assets.
Why should I use an insurance broker?
Understanding all of the different types of insurance can be time consuming and overwhelming so it’s best to hire a qualified insurance broker who can understand the processes and give you the best advice possible.
What should I look for in an insurance broker?
You will want to do some research on any potential insurance broker and find one that has experience in the field and the proper qualifications. You should also have a meeting with them and see if they are the right fit for you and your situation.
Should I pick the cheapest policy?
It may be tempting to simply choose the cheapest insurance policy, but they can often be complex. The most affordable policy may not always meet all of your needs so it’s best to consult with a qualified insurance broker to better understand which policy is best for you.
How do insurance brokers determine the insurance coverage I need?
Insurance brokers assess your insurance needs through a thorough analysis of your individual or business circumstances. They take into account factors such as your assets, liabilities, risks, industry regulations, and personal preferences. By understanding your specific situation and potential exposures, brokers can recommend appropriate coverage limits, policy types, and additional coverage options that adequately protect you or your business.
